dude, why should buffett step down when it's his OWN money. he built up his wealth from his own money. then after a reverse takeover of berkshire, he had more money to manage. the BIG difference between him and our sovereign funds ceos and management is that the latter group manages the nation's money. the people's money. money from u and me.
the fund management and wealth managemetn industry has been shaken up a lot, with many people getting the sack, most recently seen in the hsbc's retrenchment of 100 private bankers.
i dare say i speak for many when i say there ought to be some answers and accountability when billions are lost in hasty investments into the big banks like citigroup, ubs and merrill lynch. well, i think mm lee has said they invested "too early" - this is a good start in explaining, but still not good enough for many people.
people are reasonable. we just want to see responsible answers and not extreme actions like having heads roll. answers like "too bad we lost money", "what to do? it's happened. (mas selamat has escaped)" are really unacceptable.